TIME WARNER CLOSE TO ACQUIRING CABLEVISION INDUSTRIES

Time Warner is close to an agreement with Cablevision
Industries, which controls cable systems of about 1.3M
subscribers. The company could fetch between $2.5 and $3B.
Sources close to the deal said there are still hurdles to
overcome, including how Time Warner would finance the deal. If
Time Warner completes the deal, it would service over 10M cable
subscribers, making it a close second to TCI, Inc., the largest
U.S. cable operator (WALL STREET JOURNAL, 1/6).